# Dividend 15 Split Corp. (DF.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Financial Services / Capital Markets. Price C$8.62, market value C$224 million.

## Valuation
- **P/E (trailing): 2.2×** (5-yr avg 2.1×, 3-yr avg 2.2×). Dividend 15 Split Corp. trades at 2.2× trailing earnings, close to its own five-year average of 2.1×. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 4.4×**. Each dollar of revenue is priced at 4.4×.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 0.1×**. Enterprise value is 0.1× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: -1.7%** (5-yr avg -38.6%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 46.4%**. The inverse of the P/E: 46.4% of the price is earned each year.

## Profitability
- **Operating margin: 337.2%**. 337.2% of revenue is left after running the business, an exceptional level.
- **Net margin: 143.4%**. 143.4% of each dollar of sales reaches the bottom line.
- **Return on equity: 23.7%**. 23.7% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on assets: 31.5%**. Each dollar of assets produces 31.5% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): 82.4%** (3-yr 20.0%/yr, 5-yr 22.8%/yr). Revenue grew 82.4% over the last year, against 22.8% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): -47.8%**. Earnings per share fell 47.8%, slower than revenue, so margins compressed.

## Financial health
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.
- **Cash and short-term investments: C$451 million**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend yield: 13.92%** (C$1.20 per share, trailing). Dividend 15 Split Corp. yields 13.92%, high enough to check carefully: yields this high often precede a cut.
- **Payout ratio: 58%**. 58% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 2**. 2 straight years of increases.
- **Dividend growth (5 yr): 43.1%/yr** (1-yr 50.0%). The dividend has compounded at 43.1% a year over five years, doubling roughly every 2 years at that pace.
- **Shareholder yield: -12.5%**. Dividends plus net buybacks return -12.5% of the market value a year.

## Price and momentum
- **Total return (1 yr): 51.8%** (YTD 25.0%, 3-mo 5.0%). The shares are up 51.8% over twelve months including dividends.
- **From 52-week high: -11.5%** (33.4% above the low). Trading 11% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 45**. An RSI of 45 is neutral.
- **Beta (1 yr): 0.67** (volatility 21%). Beta of 0.67 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=DF.TO · Page: https://foliofundamentals.com/stocks/df.to

Not investment advice.